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KOREA: profile

Key facts

Government funding

Direct funding: National Yes
Direct funding: Regional Yes
Indirect funding: National Yes
Indirect funding: Regional Yes

Society/Industry/Market

Language Korean
Population 50 million
No. films produced per year 207 (2013)
Annual cinema admissions 213.3 million (2013)
Domestic share of box office 59.9% (2013)
No. TV households 16.5 million (2012)
Local content regulation on TV Yes
Legal system Mix of European civil law, Anglo-American law and Chinese classical
Currency WON

Industry overview

The Korean Film Council (KOFIC) offers a rebate of 25 per cent on local costs associated with co-productions and 30 per cent for foreign productions (cap of approx 1.5–1.7 million USD per project). The 10 regional film commissions also offer rebates and discounts on costs incurred in regional areas.

2013 was a strong year for the Korean film industry, producing 207 feature films, an increase of 1.5 per cent on 2012 and up significantly on the previous decade. Record cinema admissions of 213.3 million and a domestic box office share of 60 per cent were also achieved.

Korea has a reputation for being a significant influence in the Asian entertainment industry and Korean TV series, particularly drama series, have become a valued export. Broadcasting exports (including TV drama) totalled $252 million in 2011, up from $185 million in 2010. The country offers dedicated sound stages and outdoor film sets in a range of sizes as well as post-production, sound and digital imagery facilities. Korea is one of the world’s largest animation producers, with over 500 animation studios employing around 86,000 animation professionals.

With a population of 50 million, Korea offers significant access to market. High broadband penetration and fast internet speeds have helped the IPTV market develop rapidly over the last five years, reaching over 7 million IPTV subscribers in 2013.

Please note this information is correct as at December 2014.